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Cryptocurrency advertising will be absent from Bing by the end of July…

Following the lead set by Google, Facebook and Twitter, the search service Bing has confirmed that it’s now set to ban cryptocurrency advertising too.

The announcement came on the Bing Ads blog, where advertiser policy manager Melissa Alsoszatai-Petheo said that “because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviours, or otherwise scam consumers”.

She added that “to help protect our users from this risk, we have made the decision to disallow advertising for cryptocurrency, cryptocurrency related products, and un-regulated binary options”.

The policy change will be implemented across the Bing Ads network starting in June, with full rollout expected in late June and early July. It’ll be completed by the end of July.

Whilst some have found (temporary) ways around the ad bans on other platforms, it does add to the growing feeling that some kind of cryptocurrency regulation is needed. In lieu of it, more and more big platforms are taking the easier way out, and simply implementing blanket bans. Bing is unlikely to be the last to do so.

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Some time ago, the famous social network platform Reddit, decided to no longer accept bitcoin payments for purchasing Reddit Gold. According to the company, this happened because of some bugs with Bitcoin payments and the Coinbase change on commercial accounts

“The upcoming Coinbase change, combined with some bugs around the Bitcoin payment option that were affecting purchases for certain users, led us to remove Bitcoin as a payment option.”

At the moment, it seems that the platform is ready to incorporate back crypto payments for purchasing Reddit Gold, but with one unexpected surprise, Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) would be accepted.

Reddit Restores Crypto Purchases

In an interview with Cheddar, Reddit CTO Chris Slower, explained that Bitcoin had very high fees and was a problem for purchasing Reddit Gold. At the same time, he said that they are also looking at Ethereum and Litecoin, which are operated by Coinbase, have low fees and fast transactions.

“We’ve been looking at other cryptocurrencies in fact. That was part of the issue with the high fees on the Bitcoin network. We were looking at Ethereum and Litecoin that were provided both by Coinbase as well.”

Important figures of the cryptocurrency space have already shown their support to Mr. Slower’s comments. Charlie Lee, Litecoin’s founder gave a retweet to Cheddar’s interview and showed his support for this decision.

At the same time, Mr. Slowe said that Reddit has one of the oldest Bitcoin communities online around 8 years ago. Moreover, he explained that every single coin in existence has a specific sub-Reddit for discussions.

Coinbase made important changes to Coinbase Commerce, which allowed merchants to accept Bitcoin as a means of payment. Currently, if a commerce wants to keep accepting virtual currencies as a payment option, they will have to make a significant upgrade.

Now, Bitcoin and other cryptocurrencies will come back to the platform allowing users to easily give Reddit Gold to an interesting article, post or discussion.

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WikiLeaks publically stands for free speech and opposes governmental control and supervision in any form, and this has resulted in bans, restrictions, political and financial pressure. On April 21, WikiLeaks Shop, the merchandise branch of the international organization WikiLeaks, reported on its Twitter that it had lost access to its Coinbase account with vague formulations about prohibited use and violation of terms and conditions..

While some people find WikiLeaks’ vision and mission controversial, to say nothing of the materials published on the web-site, most of them are outraged by the governmental emphasized that it is “legally obligated to implement regulatory compliance mechanisms” under the US Department of the Treasury’s Financial Crimes Enforcement Network, with which the exchange is registered. But Twitter users call it a political move, and link the Coinbase decision to the lawsuit against WikiLeaks initiated by Democratic National Committee for its alleged involvement in a Trump-Russia conspiracy and a role it played in Clinton’s failed presidency campaign, wonder that the official WikiLeaks Twitter, with about 5.6 million of followers, furiously reacted to the news and has called for a “global blockade” of the exchange next week and accused Coinbase of “responding to a concealed influence.”.

No financial harm done Now, after the Coinbase move, the site has lost access to one of the services enabling WikiLeaks to collect crypto payments and convert them into fiat money. WikiLeaks, an international non-profit organisation notoriously famous for revealing and publishing secret and censored data, news leaks and information from anonymous sources, was founded by Julian Assange in 2006, and has always been dependent on donations to keep the site afloat..

In 2011, it started accepting contributions in cryptocurrencies, and WikiLeaks Shop was created as an online marketplace where people could finance Wiki by purchasing various branded stuff such as t-shirts, phone cases, coffee mugs and posters, and paying for them with cryptocurrencies. Fortunately for Wikileaks, it still will be able to accept cryptocurrency, but not through Coinbase’s system..

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Japan has now proposed guidelines with the view of legalizing ICOs in the country.

The report states:

“ICO is still in its infancy and has no industry practices yet. Appropriate rules must be set to enable ICO to obtain public trust and to expand as a sound and reliable financing method. Based on a shared awareness of this necessity, financial institutions, non-financial companies, and venture companies have co-founded the ICO Business Research Group.”

The set guidelines are as follows:

“ICOs should be designed to be acceptable to existing shareholders and debt holders.”

“ICOs should not become a loophole in existing financing methods as equity finance.”

The ICO Business Research Group proposed five trading principles:

“Token sellers should confirm the identity (Know Your Customer: KYC) and suitability of customers.”
“Administrative companies that support the issuance of tokens should confirm the KYCs of issuers.”
“Cryptocurrency exchanges should define and adopt an industry-wide minimum standard on token listing.”
“After tokens are listed, unfair trade practices of such tokens such as insider trading should be restricted.”
“Parties related to the trading of tokens such as issuers, administrative companies, and token exchanges should make efforts to ensure cyber security.”

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The first and foremost reason is all around the world REGULATORS are motivated in full swing to draw down protocols and regulations to regulated the so far currently volatility driven crypto currency markets.

Primarily one has to understand that once any commodity/ Currency/ or unregulated market is at the brink of getting regulated, the panic of loosing the substantial growth and autonomous growth is seen to come at hault, for some short duration, and this is where the common masses begin to panic. CRYPTO markets are not the first markets which has seen such panic and red Flags. Several years before FOREX markets used to suffer the same.

But the major panic wave was driven after china pressed the crypto ban button all of sudden.

So the falling prices do not mean that the crypto currency evolution is going to take a down turn but its the beginning of price correction and systematic market functioning.

So let the news play its own saga, BUT INVESTORS & ENTREPRENEURS need to stick to their self decided and self derived estimated and evaluations and workout their logics keeping the market discounting news of falling prices and crashing crypto-currencies.